The awarding of a licence for exploration of oil and gas fields by Silurian Sp. z o.o.a company belonging to PETROLINVEST GROUP

The awarding of a licence for exploration of oil and gas fields by Silurian Sp. z o.o. - a company belonging to PETROLINVEST GROUP

Own release

19.08.2011

The Management Board of PETROLINVEST S.A. (“the Company”) announces that on 18 August 2011 it received a notice of awarding to Silurian Sp. z o.o. (a subsidiary of PETROLINVEST S.A.) (“Silurian”) by the Minister of Environment licences for the exploration of oil and gas fields :

* Licence No 35/2011/p for exploration of oil and gas fields in “Chodel” area (part of licence block no 317) covering 188.54 km2;
* Licence No 36/2011/p for exploration of oil and gas fields in “Maków Mazowiecki” area (part of licence blocks no 174, 175, 194 and 195) covering 699.17 km2.

The awarded licences jointly cover an area of 887.71 km2.
The validity period of each licence has been set at 3 years from the date of awarding.
Pursuant to the terms and conditions of the awarded licences the scope of exploration works has been divided into two stages where the first one, to be realised within 12 months, covers reprocessing, reinterpretation and analysis of geological data and the second, scheduled for 24 months, the acquisition of a seismic 2D survey.

Together with the already held exploration licences (areas of: Opole, Kędzierzyn Koźle and Głubczyce) Silurian currently holds five exploration licences with the total area of 4,082.10 km2.

Download current report no. 80/2011